Published: Fri, May 11, 2018
Markets | By Otis Pena

Dropbox (DBX) Now Covered by Piper Jaffray

Dropbox (DBX) Now Covered by Piper Jaffray

One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Therefore 73% are positive. The stock presently has an average rating of "Buy" and an average price target of $33.46.

Analysts surveyed by S&P Global Market Intelligence expected Dropbox to report $309.2 million in revenue and adjusted earnings of 5 cents a share. Jefferies Group began coverage on Dropbox in a research report on Tuesday, April 17th. The firm has "Hold" rating given on Tuesday, April 17 by Goldman Sachs.

Heading into earnings, RBC Capital Markets analysts led by Mark Mahaney sounded optimistic about Dropbox in a May 4 note.

In related news, insider Arash Ferdowsi sold 2,333,333 shares of Dropbox stock in a transaction dated Tuesday, March 27th. (NASDAQ:DBX) on Tuesday, April 17 with "Buy" rating. Deutsche Bank initiated Dropbox, Inc. The company was initiated on Tuesday, April 17 by KeyBanc Capital Markets. The firm has "Buy" rating by Canaccord Genuity given on Tuesday, April 17. The brokerage now has a "buy" rating on the stock. The rating was initiated by DA Davidson with "Buy" on Wednesday, March 21. JMP Securities initiated the shares of DBX in report on Tuesday, April 17 with "Buy" rating. Finally, Macquarie started coverage on shares of Dropbox in a research report on Tuesday, April 17th.

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DBX traded up $0.60 during trading on Tuesday, reaching $32.00. That compared with analysts' average estimate of 11.3 million, according to Thomson Reuters I/B/E/S.

Shares of NASDAQ:DBX - Dropbox closed the previous trading session at with 2061910 shares trading hands. It has underperformed by 11.55% the S&P500.

Dropbox did not provide earnings guidance.

Looking ahead to the second quarter and the full year, the company expects to see revenues in the range of $328 million to $331 million and $1.34 billion to $1.36 billion, respectively. The Company's platform allows individuals, teams, and organizations to create, access, and share content online. The firm's revenue was up 27.6% compared to the same quarter last year. analysts forecast that Dropbox will post 0.19 earnings per share for the current fiscal year. The firm was formerly known as Evenflow, Inc. and changed its name to Dropbox, October 2009. Inc. bought a new stake in Dropbox in the 1st quarter worth about $199,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Dropbox in the first quarter worth $395,000. "Stock Slips as Company Reports First Earnings Since IPO" on May 11, 2018, also with their article: "Stock Futures Signal Positive Start as Dow Eyes 7th Straight Win" published on May 11, 2018, published: "5 Biggest Price Target Changes For Friday" on May 11, 2018. Eaton Vance Management acquired a new position in shares of Dropbox in the first quarter worth $291,000.

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